DoubleVerify (NYSE:DV) Trading Up 4% – Should You Buy?

DoubleVerify Holdings, Inc. (NYSE:DV)’s stock price shot up 4% during trading on Monday . The stock traded as high as $21.51 and last traded at $21.44. 522,029 shares changed hands during trading, a decline of 63% from the average session volume of 1,427,801 shares. The stock had previously closed at $20.61.

Wall Street Analyst Weigh In

Several research firms have recently commented on DV. Wells Fargo & Company began coverage on DoubleVerify in a report on Monday, October 28th. They set an “underweight” rating and a $14.00 target price for the company. Stifel Nicolaus lowered their target price on DoubleVerify from $25.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 14th. Piper Sandler lowered their target price on DoubleVerify from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of DoubleVerify in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada boosted their price objective on DoubleVerify from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

DoubleVerify Trading Up 4.2 %

The business has a 50-day moving average price of $19.97 and a 200 day moving average price of $19.01. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 58.04, a P/E/G ratio of 2.43 and a beta of 0.99.

DoubleVerify announced that its Board of Directors has approved a share repurchase plan on Wednesday, November 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at DoubleVerify

In other DoubleVerify news, CFO Nicola T. Allais sold 1,764 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.30, for a total transaction of $35,809.20. Following the sale, the chief financial officer now directly owns 81,598 shares of the company’s stock, valued at $1,656,439.40. The trade was a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On DoubleVerify

Hedge funds have recently modified their holdings of the stock. True Wealth Design LLC acquired a new position in shares of DoubleVerify in the third quarter worth $29,000. GAMMA Investing LLC increased its stake in shares of DoubleVerify by 73.6% in the fourth quarter. GAMMA Investing LLC now owns 2,036 shares of the company’s stock worth $39,000 after acquiring an additional 863 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of DoubleVerify in the third quarter worth $49,000. KBC Group NV boosted its holdings in DoubleVerify by 35.8% in the third quarter. KBC Group NV now owns 5,022 shares of the company’s stock worth $85,000 after purchasing an additional 1,325 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in DoubleVerify in the fourth quarter worth $113,000. 97.29% of the stock is owned by institutional investors and hedge funds.

DoubleVerify Company Profile

DoubleVerify Holdings, Inc provides a software platform for digital media measurement, and data analytics in the United States and internationally. The company provides solutions to advertisers that enable advertisers to increase the effectiveness and quality and return on their digital advertising investments.